Cryptocurrency Q&A
Are bitcoin miners making money?
Are bitcoin miners making money?
Arianna
Sun Jun 23 2024
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5 answers
1011
I've been hearing a lot of chatter in the financial community lately about Bitcoin mining and its profitability. Could you please elaborate on the current state of affairs? Are Bitcoin miners actually making money in this volatile market? What factors are driving their profitability? Is it purely the value of Bitcoin itself, or are there other incentives like transaction fees and block rewards? And how do these factors change over time? Are there any risks involved that miners should be aware of? Your insights would be greatly appreciated.
5 answers
QuasarGlider
Tue Jun 25 2024
Bitcoin mining has garnered significant attention, yet Adrangi, a financial expert, offers a dissenting view.
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ShadowFox
Mon Jun 24 2024
In an interview with Yahoo Finance, Adrangi labels Bitcoin mining as "one of the stupidest business models" he has encountered.
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DaeguDiva
Mon Jun 24 2024
He argues that delving into the economics of US bitcoin miners reveals a concerning truth: they are not profitable.
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Eleonora
Mon Jun 24 2024
According to Adrangi, these miners rely primarily on issuing shares to fund their operations, allowing them to pay hefty stock compensations and acquire additional mining hardware.
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EchoSeeker
Mon Jun 24 2024
This approach, he believes, is unsustainable and indicative of a flawed business model. BTCC, a UK-based cryptocurrency exchange, offers a contrasting service model.
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